Reliance's asset monetisation over 4 months to boost credit quality: S&P

The oil-to-telecom conglomerate has amassed Rs 2.1 trillion in investment proceeds since Facebook announced its investment in its digital unit Jio Platforms Ltd in April

S&P Global Ratings on Monday said that Reliance Industries Ltd's sizable proceeds from asset monetisation over the past four months should significantly improve its credit quality.

"RIL's deleveraging could exceed our expectations, given the extent and magnitude of its asset monetisation," the rating agency said in a statement.

The asset monetisation was despite operations that are trending weaker than anticipated for the fiscal year ending March 31, 2021.

The oil-to-telecom conglomerate has amassed Rs 2.1 trillion in investment proceeds since Facebook announced its investment in its digital unit Jio Platforms Ltd (JPL) in April 2020.

The proceeds include Rs 1.52